Veracyte, Inc. (NASDAQ:VCYT) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its position in shares of Veracyte, Inc. (NASDAQ:VCYT - Free Report) by 45.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,066 shares of the biotechnology company's stock after selling 20,663 shares during the period. Advantage Alpha Capital Partners LP's holdings in Veracyte were worth $853,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in VCYT. Point72 Asset Management L.P. bought a new stake in shares of Veracyte during the 2nd quarter valued at $12,279,000. William Blair Investment Management LLC raised its stake in Veracyte by 67.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,241,671 shares of the biotechnology company's stock valued at $26,907,000 after purchasing an additional 500,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Veracyte by 288.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 360,871 shares of the biotechnology company's stock worth $12,284,000 after purchasing an additional 268,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Veracyte by 3.7% during the first quarter. Vanguard Group Inc. now owns 7,384,871 shares of the biotechnology company's stock valued at $163,649,000 after buying an additional 266,660 shares during the last quarter. Finally, Algert Global LLC raised its position in shares of Veracyte by 411.1% during the third quarter. Algert Global LLC now owns 201,697 shares of the biotechnology company's stock valued at $6,866,000 after buying an additional 162,236 shares during the last quarter.

Insider Buying and Selling

In related news, Director Evan/ Fa Jones sold 5,173 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $35.23, for a total transaction of $182,244.79. Following the transaction, the director now directly owns 34,343 shares of the company's stock, valued at $1,209,903.89. This represents a 13.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Leite sold 5,479 shares of the company's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $29.78, for a total transaction of $163,164.62. Following the transaction, the insider now owns 76,174 shares in the company, valued at approximately $2,268,461.72. This trade represents a 6.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on VCYT shares. Leerink Partners increased their price objective on shares of Veracyte from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. UBS Group increased their price target on Veracyte from $43.00 to $46.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Veracyte from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Needham & Company LLC increased their target price on Veracyte from $37.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Wolfe Research initiated coverage on shares of Veracyte in a report on Friday, November 15th. They issued an "outperform" rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Veracyte has a consensus rating of "Moderate Buy" and a consensus target price of $41.25.

Veracyte Stock Up 4.2 %

NASDAQ:VCYT traded up $1.74 during mid-day trading on Tuesday, reaching $42.84. The company's stock had a trading volume of 1,032,256 shares, compared to its average volume of 771,039. Veracyte, Inc. has a 1 year low of $18.61 and a 1 year high of $42.85. The stock has a fifty day moving average of $35.04 and a 200-day moving average of $28.50. The firm has a market capitalization of $3.32 billion, a PE ratio of -274.00 and a beta of 1.67.

Veracyte (NASDAQ:VCYT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.16. The firm had revenue of $115.86 million for the quarter, compared to the consensus estimate of $109.81 million. Veracyte had a negative net margin of 2.18% and a positive return on equity of 3.02%. The company's quarterly revenue was up 28.6% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. On average, analysts expect that Veracyte, Inc. will post 0.32 earnings per share for the current year.

About Veracyte

Veracyte, Inc operates as a diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier for cancerous thyroid nodules; Decipher Prostate Biopsy and Radical Prostatectomy for prostate cancer diagnosis; Prosigna Breast Cancer Assay for breast cancer diagnosis; Percepta Nasal Swab Test for lung cancer diagnosis; and Envisia Genomic Classifier for diagnosing interstitial lung disease, including idiopathic pulmonary fibrosis.